Will create 500 new jobs
LOUISVILLE, Ky. (Dec. 11, 2014) — Kindred Healthcare is planning to expand its corporate headquarters in downtown Louisville. The move will create up to 500 full-time jobs and lead to construction of a new operations center in Theatre Square.
“This is a tremendous day for Kentucky and for Louisville,” Gov. Beshear said. “Kentucky is becoming the critical hub for the health care industry, and Kindred’s continuing success is a big reason why.”
Kindred plans to construct a six-story, 142,000-s.f. building adjacent to the company’s corporate headquarters on South 4th St. The new facility will house Kindred’s support center operations, national training center, Kindred University and an employee wellness clinic. Construction is expected to begin in the summer of 2015 and will take approximately 24 months.
The new facility also will bring Kindred employees from across the U.S. to Louisville for seminars, educational programs and company meetings.
Early next year, Kindred will become one of the largest health care companies in the U.S., employing more than 100,000 people in 47 states. Kindred currently has nearly 2,500 employees in Louisville.
“It is exciting and gratifying to see a homegrown company continue to expand and become the national leader in its health care sector,” said Louisville Mayor Fischer. “Kindred’s expansion and development of Kindred Square is a major investment in our downtown, creating a new headquarters building for our skyline and a major anchor for South 4th Street. Their growth plans, including the creation of so many new jobs, underscores this company’s confidence in Louisville and solidifies our best-in-the-world status as the leader in lifelong wellness and aging care.”
The Kentucky Economic Development Finance Authority preliminarily approved Kindred for tax incentives up to $11 million through the Kentucky Business Investment (KBI) program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
KEDFA also approved the company for tax benefits up to $500,000 through the Kentucky Enterprise Initiative Act, which allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing equipment.